Tennessee Health Club Bond |
AmeriPro Surety Bonds |
Health Clubs – Tennessee
Health clubs in Tennessee are licensed and overseen by the state’s Department of Commerce and Insurance.
As a prerequisite for licensing, a health club surety bond must be furnished to the Department.
Tennessee Health Club Bond: Amount of Surety Bond Required and the Pricing
The Tennessee health club bond is a $25,000 surety bond required of your health club business. The Department of Commerce and Insurance is the surety bond’s obligee (this is a fancy word which simply means the entity requiring the bond).
The pricing for this surety bond will be determined by an application (completed with our agency in a matter of minutes) and a personal or business credit score check.
Typically, an applicant will pay about 1%, or $250 annually for this bond; however, the results of your credit may cause the bond’s premium to be higher.
As a general rule, qualifying at a good price for this will be easy for the majority of our customers.
Duration of this Bond:
The Tennessee health club bond is issued for one year, and expires thereafter. In some cases, options may exist to prepay this surety bond for 2 or 3 years, which also offers a savings over year to year renewal of this bond.
The Tennessee health club bond is a financial guarantee which does several things:
- This surety bond ensures your compliance with all provisions, amendments and additions to the Tennessee Health Club Act;
- This bond also ensures your compliance with any relevant sections of the Tennessee Consumer Protection Act and any futures amendments or additions.
As a health club entity, you are required to:
- Provide any agreements to your customer or potential customers in writing;
- Have any such agreements signed by your customer;
- Provide wording in clear writing which states that the buyer may cancel the agreement within 3 days of signing.
AmeriPro Surety Bonds provides license and permit surety bonds throughout Tennessee and nationwide.
Please call our agency today for this bond at:
Or, you may fill out the form below and an agent will contact you…